task problem

Project Description:

you are the manager of a monopolistically competitive firm. the inverse demand for your product is given by
p=200-10q and your marginal cost is mc=5+q.

a. what is the profit-maximizing level of output?
b. what is the profit-maximizing price?
c. what are the maximum profits?
d. what do you expect to happen to the demand for your product in the long run? explain.
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